This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

membership into the world trading system, the WTO may face a "latecomers" problem that, while occurring also in earlier rounds …

Recent trends suggest the world economy may be tending towards an equilibrium with two distinct trading blocs, each …

Southeast Asian and Latin American countries and both the United States and Japan. Foreign direct investment by both Japan and … rates. Also, trade between the countries in our sample and the United States and Japan is significantly affected by foreign …